Zee labels media reports about merger being called off 'baseless'

Following media stories regarding the Zee-Sony merger being called off, the former has issued a statement labelling it as 'baseless and factually incorrect'.

 

The statement issued to the BSE added that Zee is committed to the merger with Sony and is continuing to work towards the successful closure of the merger.

 

Zee added that the company has always complied with its obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to make disclosures in accordance with the same. 

 

Here's the statement in full: 

 

This is with reference to (i) the letter dated January 9, 2024 bearing reference number NSE/CM/Surveillance/13787 received from National Stock Exchange of India Limited; and an email dated January 9, 2024 bearing reference number L/SURV/ONL/RV/KS/ (2023- 2024)/ 78 received from BSE Limited, regarding the news item captioned "Sony on the brink of terminating $10 billion merger with Zee: The inside story of what went wrong over two years" appeared in the "economictimes.indiatimes.com". In this regard, we would like to clarify that the above-mentioned article is baseless and factually incorrect. We wish to reiterate that the Company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger. We would also like to state that the Company has always complied with its obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and will continue to make disclosures in accordance with the same.